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<br />Note_2-Singte Fmnlo�sr D�fined Benef,c Pe�ion Ptan - Votun�eEr_Fue_gelief Association=continued
<br />Contributions ro the relief association from the Ciry in 1995 totaled $251,264. The future actuarial derermined contributions represent
<br />funding for normal cost $130,000 and the amortization of the unfunded actuarial accrued liabiliry is $137,000. Contributions made by
<br />the Ciry of Roseville represent '71.8 percent of covered payroll for the year.
<br />The payroll for employees covered by the relief association for the year ended December 31, 1995, was $349,696; the Ciry's total
<br />payroll was $5,893,330.
<br />State aid received in 1995 totaled $97,431.
<br />Significant actuarial assumptions used to compute pension contribution requ'uements aze substantially the same except the benefits were
<br />increased. The computation of the pension contribution requirements for 1995 was based on the same actuarial assumptions, acruazial
<br />funding method, and other significant factors used ro determine pension contribution requirements as in previous yeazs.
<br />Te�Yeaz_13istoricaLTrend Informarion_(Unaudited)
<br />ien-year historicai trend information reiated to the pension plan is presented in the relief associations' annual fmancial report. This
<br />information is presen[ed to enable the reader to assess the progress made by the Roseville Fire Fighter's Relief Association in
<br />accumulating sufficient assets to pay peasion benefiu as they become due. Information prior to 1987 is not available, however, for the
<br />nine years ended 1987, 1988, 1989, 1990, 1991, 1992, 1993, 1994 and 1995 respectively, available assets were sufficient to fund
<br />653%, 71.2%, 78.8%, 92.5%, 90.8%, 93.6%, 76.1 %, 75.5% and 80.9% of the pension benefit obligation. Unfunded pension benefit
<br />obligation represented 371.7%, 296.4%, 197.9%, 623%, 84.4%, 67.7%, 264.2%, 304.8% and 2863% of the annual payroll for
<br />employees covered by the Roseville Volunteer Fire Relief Association for 1988, 1989, 1990, 1991, 1992, 1993, 1994 and 1995
<br />respectivety. Showing unfunded pension benefit obligation as a percentage of annual covered payroll approzimately adjusts for the effecu
<br />of infla[ion for analysis purposes. In addition, for the nine years ended 1987, 1988, 1989, 1990, 1991, 1992, 1993, 1994 and 1995
<br />the City's contributions to the System, ali made in accordance with ac[uarially determined requirements, were 0.00%, 11.2%, 8.1,
<br />2.9%, 7.9%, 83%, 56.6%, 38.5 and 71.8% respectively of annual covered payroll.
<br />Note_1D__]nterfund_Payables_andBecei�ables
<br />The Ciry uses the pooled investment method for most of it's cash management program (See note 3). Interfund payables and receivables
<br />created by the pooled investment program as of December 31, 1995 consists of the following:
<br />Fund
<br />Capita] Projects -
<br />Permanent Improvements
<br />Economic Increments
<br />Minnesota S[ate Aid
<br />Infrastructure Replacement
<br />Enterprise -
<br />Water
<br />Special Revenue -
<br />Recreation Fund
<br />Debt Service-
<br />Ciry Hall Bonds
<br />Intecfund Receirable
<br />$ 2,664,635
<br />1,484,663
<br />860,614
<br />1,221,473
<br />m
<br />Interfund Payable
<br />$ 2,604,703
<br />1,570,205
<br />1,990,292
<br />6,253
<br />
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